Friday, February 19, 2010

Knife-Catching Nightmare

Who's that chick?

Apparently she is some children's book author - website here.

My buddy in Naples told me that 18 months ago she bought a house there for $1.4 million; and that she put in another $300,000 worth of improvements.

Who knows what happened, but she decided to auction the place off herself. It was one of those events where the seller isn't even allowed to assert a minimum asking price. So if no one shows up, it could be theoretically be had for a song.

The winning bid was somewhere in the 800s - so she lost a sizable amount of money from her $1.7 million *investment*. And I believe an unhappy Ms. Lane is trying to contest the auction somehow, to boot. But that's between her and the buyer.

The only thing interesting to me in this story is the fact that a children's book author could somehow afford a $1.7 million abode. Perhaps she comes from money, or her life partner is successful. Who knows? But it could very well be that her childish books pay the bills.

In that case, I ought to re-examine what I had always thought was a non-lucrative line of business! After all, what simpleton couldn't come up with some of these ridiculous plot lines?

(Note that 18 months ago, the Florida housing market was already deep into implosion. So losing 50% in that short time period is quite the knife-catching disaster!)

See also - Beachfront Foreclosure - Dodge The First Falling Knife.

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